727 FinancePANews November 2 news: THORChain stated in a post that on October 31, a single-block reorg occurred on Ethereum, causing THORChain to erroneously pay out 10 ETH that had never actually been received. The automatic solvency check mechanism was immediately triggered, pausing ETH swaps. Within about two minutes, node operators further paused ETH transaction signing to prevent further outflow of funds. As a precautionary measure, nodes subsequently paused transactions on all related chains to allow the core development team to investigate. The 10 ETH has now been voluntarily returned by the user, and the vault has restored solvency.
PANews November 2 news: THORChain stated that on October 31, a single-block reorg occurred on Ethereum, causing THORChain to erroneously pay out 10 ETH that had never actually been received. The automatic solvency check mechanism was triggered immediately, pausing ETH swaps. Within about two minutes, node operators further paused ETH transaction signing to prevent further outflow of funds. As a precautionary measure, nodes subsequently paused transactions on all related chains so that the core development team could investigate. Currently, the 10 ETH has been voluntarily returned by the user, and the vault has restored solvency.
Currently, transactions on AVAX, BASE, RUNE, and XRPL remain active; the blockchains that have been paused include ATOM, BCH, BSC, BTC, DOGE, ETH, LTC, SOL, TRON, and ZEC. The core development team is advancing the relevant fixes. Node operators will decide whether to re-enable the relevant chains after confirming that each chain is secure. THORChain emphasized that the emergency pause mechanism is controlled by node voting and does not give nodes control over assets.
Previous news: An Ethereum reorg caused THORChain to pause, unexpectedly slowing the laundering of stolen Binance funds.